Securities Claims Against Cybersecurity Firm Miss The Mark, Appellees Argue

Mealey's (June 17, 2022, 10:55 AM EDT) -- SAN FRANCISCO — A federal district court did not err in dismissing shareholder claims against a cybersecurity services provider and two of its senior executives alleging that the defendants misrepresented and failed to disclose that the company would not be able to meet revenue expectations because shareholders failed to sufficiently plead falsity or scienter in pleading their federal securities law claims, the company and executives argue in a May 11 appellee brief filed in the Ninth Circuit U.S. Court of Appeals....